Key facts
- IFM Investors is nearing a 50% stake in Atlas Arteria.
- The takeover bid deadline is Thursday night.
- IFM Investors currently holds 45.64% of Atlas Arteria shares.
- An additional 1.33% of securities are held by IFM Investors' clients, bringing the effective holding to around 47%.
- IFM Investors' offer values Atlas Arteria at A$7.4 billion.
IFM Investors is approaching a 50% ownership stake in the Australian toll road operator Atlas Arteria Ltd. as its takeover bid deadline approaches on Thursday night. According to a Tuesday stock exchange notice, IFM Investors currently holds 45.64% of Atlas Arteria shares. Including an additional 1.33% of securities held by or on behalf of clients of IFM Investors, the effective holding stands at approximately 47%. The offer from IFM Investors values Atlas Arteria at A$7.4 billion ($5.2 billion). IFM Investors is reportedly aiming to secure an additional 60 million Atlas Arteria shares before the unconditional offer's deadline.